Orchestra BioMed’s (OBIO) Buy Rating Reaffirmed at HC Wainwright

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $10.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 146.31% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Wall Street Zen raised shares of Orchestra BioMed from a “strong sell” rating to a “hold” rating in a research report on Saturday, March 14th. Barclays lifted their price target on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings lowered shares of Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Finally, Chardan Capital reissued a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research report on Thursday, March 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.50.

Orchestra BioMed Price Performance

Shares of OBIO opened at $4.06 on Thursday. The firm has a market cap of $243.11 million, a PE ratio of -4.19 and a beta of 0.52. The firm’s 50 day moving average price is $4.31 and its 200 day moving average price is $4.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 6.43 and a current ratio of 6.45. Orchestra BioMed has a twelve month low of $2.20 and a twelve month high of $5.42.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.07. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 167.93%. The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million. As a group, research analysts expect that Orchestra BioMed will post -1.68 EPS for the current fiscal year.

Insider Activity

In related news, insider David P. Hochman acquired 10,000 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the insider owned 1,086,467 shares in the company, valued at approximately $4,660,943.43. The trade was a 0.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Orchestra BioMed

Hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Orchestra BioMed in the fourth quarter worth $38,000. Creative Planning acquired a new stake in shares of Orchestra BioMed in the second quarter worth $40,000. XTX Topco Ltd acquired a new stake in shares of Orchestra BioMed in the second quarter worth $45,000. Jane Street Group LLC acquired a new stake in shares of Orchestra BioMed in the second quarter worth $50,000. Finally, Virtu Financial LLC acquired a new stake in shares of Orchestra BioMed in the fourth quarter worth $57,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

About Orchestra BioMed

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical?stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high?unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early? and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.